Public Sector Pension Investment Board lifted its stake in Triumph Bancorp Inc (NASDAQ:TBK) by 50.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 92,136 shares of the financial services provider’s stock after buying an additional 30,888 shares during the period. Public Sector Pension Investment Board owned about 0.36% of Triumph Bancorp worth $3,503,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TBK. Great West Life Assurance Co. Can acquired a new position in Triumph Bancorp in the fourth quarter worth about $1,111,000. California Public Employees Retirement System increased its holdings in shares of Triumph Bancorp by 571.2% during the third quarter. California Public Employees Retirement System now owns 48,855 shares of the financial services provider’s stock worth $1,558,000 after buying an additional 41,576 shares in the last quarter. Barclays PLC increased its holdings in shares of Triumph Bancorp by 134.5% during the fourth quarter. Barclays PLC now owns 73,777 shares of the financial services provider’s stock worth $2,805,000 after buying an additional 42,316 shares in the last quarter. Banc Funds Co. LLC increased its holdings in shares of Triumph Bancorp by 8.7% during the fourth quarter. Banc Funds Co. LLC now owns 515,781 shares of the financial services provider’s stock worth $19,610,000 after buying an additional 41,120 shares in the last quarter. Finally, Globeflex Capital L P increased its holdings in shares of Triumph Bancorp by 87.8% during the fourth quarter. Globeflex Capital L P now owns 26,475 shares of the financial services provider’s stock worth $1,007,000 after buying an additional 12,376 shares in the last quarter. Institutional investors and hedge funds own 78.28% of the company’s stock.
Several research firms have recently weighed in on TBK. ValuEngine lowered shares of Triumph Bancorp from a “buy” rating to a “hold” rating in a report on Friday, December 13th. BidaskClub raised shares of Triumph Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday. B. Riley cut shares of Triumph Bancorp from a “buy” rating to a “neutral” rating and decreased their price target for the company from $42.00 to $33.00 in a research note on Monday, March 9th. Stephens raised shares of Triumph Bancorp from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, March 17th. Finally, Piper Sandler decreased their price target on shares of Triumph Bancorp from $43.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $38.25.
In other news, Director C Todd Sparks purchased 2,300 shares of Triumph Bancorp stock in a transaction dated Thursday, March 12th. The shares were bought at an average cost of $20.18 per share, with a total value of $46,414.00. Following the completion of the transaction, the director now directly owns 49,785 shares in the company, valued at approximately $1,004,661.30. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.54% of the stock is currently owned by company insiders.
TBK stock traded up $1.50 during midday trading on Thursday, reaching $25.59. The company’s stock had a trading volume of 42,780 shares, compared to its average volume of 280,493. Triumph Bancorp Inc has a 52 week low of $19.03 and a 52 week high of $43.15. The stock has a market cap of $554.36 million, a PE ratio of 11.39, a price-to-earnings-growth ratio of 0.87 and a beta of 1.25. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.06. The business’s 50-day simple moving average is $33.16 and its 200-day simple moving average is $34.65.
Triumph Bancorp (NASDAQ:TBK) last announced its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. Triumph Bancorp had a net margin of 17.08% and a return on equity of 9.15%. The firm had revenue of $75.07 million for the quarter, compared to analysts’ expectations of $75.64 million. During the same period last year, the firm earned $0.67 earnings per share. As a group, equities analysts forecast that Triumph Bancorp Inc will post 2.15 earnings per share for the current fiscal year.
Triumph Bancorp Company Profile
Triumph Bancorp, Inc operates as a financial holding company for TBK Bank, SSB that provides banking and commercial finance products and services to retail customers and small-to-mid-sized businesses in the United States. The company operates through Banking, Factoring, and Corporate segments. It offers depository products, including checking, savings, and money market accounts, as well as certificates of deposit; and commercial and industrial loans, loans to purchase capital equipment, and business loans for working capital and operational purposes.
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